Co-operatives National Law Act 2020
sec.35Draft disclosure statement submitted before commencement
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sec.35 Draft disclosure statement submitted before commencement
This section applies if— before the commencement, a draft disclosure statement for a proposed cooperative was submitted to the registrar under section 17 of the repealed Act; and immediately before the commencement, the registrar had not decided to approve or refuse to approve, or been taken to have approved, a disclosure statement in relation to the proposed cooperative under section 17 of the repealed Act. Section 17 of the repealed Act continues to apply in relation to the draft disclosure statement as if that Act had not been repealed. If the registrar approves, or is taken to have approved, a disclosure statement in relation to the proposed cooperative under section 17 of the repealed Act, the approval is taken to be an approval of a formation disclosure statement given under section 25 of the Law. (sec.35-ssec.1) This section applies if— before the commencement, a draft disclosure statement for a proposed cooperative was submitted to the registrar under section 17 of the repealed Act; and immediately before the commencement, the registrar had not decided to approve or refuse to approve, or been taken to have approved, a disclosure statement in relation to the proposed cooperative under section 17 of the repealed Act. (sec.35-ssec.2) Section 17 of the repealed Act continues to apply in relation to the draft disclosure statement as if that Act had not been repealed. (sec.35-ssec.3) If the registrar approves, or is taken to have approved, a disclosure statement in relation to the proposed cooperative under section 17 of the repealed Act, the approval is taken to be an approval of a formation disclosure statement given under section 25 of the Law.
- (a) before the commencement, a draft disclosure statement for a proposed cooperative was submitted to the registrar under section 17 of the repealed Act; and
- (b) immediately before the commencement, the registrar had not decided to approve or refuse to approve, or been taken to have approved, a disclosure statement in relation to the proposed cooperative under section 17 of the repealed Act.